Transcript Slide 1

ACCOUNTING FOR THE
RESOURCES
2000 - 2005
Our Trinidad and Tobago Scorecard
Economic Growth

Energy Sector

Social Sector

National Security

Infrastructure

Housing

Education

Health

Agriculture

State Enterprises

Tobago
The Growth of the Economy
Economic Growth
 Trinidad and Tobago continues to lead with:
The largest energy and manufacturing sectors in
the English speaking Caribbean
A rapidly emerging financial services sector
Non-energy growth 4.7 percent
Energy sector growth averaged 13.6 percent
Overall the economy grew by an average of
7.7% since 2000
Economic Growth
 Our economy is one of the fastest growing in the
Western Hemisphere. In Current GDP we achieved
the following :
 2000
 2006
 2007
$51.4 billion
$101 billion
$112 billion
 The size of the economy has doubled since 2000
Central Government Fiscal Operations
Revenue Receipts
Billions of Dollars
Energy and Non-Energy Revenues
 2000
- 12.2
18
 2001
- 14.4
14
12
 2003
- 14.1
- 17.4
TT$ Bn.
 2002
16
10
8
6
4
2
0
 2004
- 20.9
2000
2001
Energy
 2005
2002
2003
2004
Non Energy
- 29.3
Energy is defined as Oil Companies receipts
based on oil and gas assets. Petrochemical
companies are classified as non energy.
2005
Central Government Fiscal Operations
Allocated Expenditure
Billions of Dollars
 2000
Subcomponents of Central Gov't Expenditure
- 12.5
14
12
- 14.0
 2002
- 14.2
 2003
- 16.6
10
TT$ Bn.
 2001
8
6
4
2
0
2000
 2004
- 20.7
 2005
- 27.3
2001
Personnel Expenditure
2002
2003
Transfers & Subsidies
2004
2005
Central Gov't Debt Service
Note that savings in the RSF is included in Central
Government Expenditure . Note also fixed costs
versus variable costs i.e. transfers.
Central Government Fiscal Operations
Details of Current Transfers
Fiscal 2005/2006 ($M)
 TOTAL CURRENT TRANSFERS
 Educational Institutions
 University of the West Indies
 University of Trinidad &Tobago
 Higher Education Loan Programme
 Grants to Government Secondary Schools
 Households
 Public Officers Pensions and Gratuities
 Subsidy Re-sale of Petroleum Products
 Old Age Pensions
 Social Assistance
 Disability Grant
17,533.7
1,128.5
677.4
93.7
102.5
100.0
5,225.0
1,254.2
1,322.2
1,032.8
268.2
152.0
Central Government Fiscal Operations
Details of Current Transfers (Cont’d)
Fiscal 2005/2006 ($M)
 Other Transfers
8,579.6
 Infrastructure Development Fund
3,050.0
 Revenue Stabilisation Fund
2,462.8
 Government Assistance for Tuition Expenses (GATE)
250.0
 Regional Health Authorities
1,071.1
 Community Based Environmental Protection
 Environment Programme
425.0
 National Social Development Programme
200.0
 Petroleum Relief for CARICOM States
375.0
Central Government Fiscal Operations
Details of Current Transfers (Cont’d)
Fiscal 2005/2006 ($M)
 Transfers to State Enterprises
Caroni (1975) Limited
PowerGen - Equity Investment
National Schools Dietary Services Limited
Caribbean New Media Group: Equity Investment
BWIA Equity Recapitalization
1,941.7
266.3
321.3
200.0
61.6
774.1
Loans and Grants
282.4
Trinidad and Tobago Electricity Commission
282.4
Central Government Fiscal Operations
Results of Operations
$ Millions of Dollars
Year
Revenue
Expenditure Surplus/Deficit Surplus /Deficit
as % of Revenue
2000
12,199.4
12,482.7
-283.3
2.3
2001
14,381.0
13,990.9
390.1
2.7
2002
14,122.5
14,226.8
-104.3
0.7
2003
17,366.6
16,591.6
775.0
4.5
2004
20,885.4
20,673.9
211.5
1.0
2005
29,286.2
27,274.7
2,011.5
6.9
Central Government recorded its third consecutive
fiscal surplus in 2005.
Revenue Stabilization Fund (RSF)
 $1.26 billion was

transferred to the
RSF during fiscal 2004.
6000
5000
$TT Mn.
 $2.59 billion was

transferred to the
RSF during fiscal 2005.
RSF end of year balance
4000
3000
2000
 The size of the Fund
increased to $5.484
billion TT as at
December 31, 2005.
1000
0
2000
2001
2002
2003
2004
2005
Central Government Fiscal Operations
Foreign Reserves
Millions of US Dollars
Year
Gross Official
Reserves
Revenue
Stabilization Fund
Import
Cover (months)
4.3
2000
1,405.5
65.7
2001
1,876.0
160.5
5.6
2002
1,923.6
160.5
5.5
2003
2,258.0
247.7
5.4
2004
2,993.0
449.9
6.9
2005
4,781.4
867.1
9.5
Between 2000 and 2005 Gross Official Reserves increased by
240.2 percent . The Gross Official Reserves as at December 31,
2005 represents 9.5 months of import cover.
Inflation—a challenge of expansion
25
Percent(%)
20
15
10
5
0
2000
2001
2002
2003
2004
2005
Headline
3.6
5.6
4.2
3.8
3.7
6.9
Core
2.7
4
3
1.7
1.6
2.7
Food
8.3
14
10.2
13.8
12.8
22.9
Central Government Fiscal Operations
Foreign Direct Investments
Trinidad and Tobago’s positive investment climate
continues to attract significant inflows of Foreign
Direct Investment:
Year






US$ Million
2000
2001
2002
2003
2004
2005
680
835
791
808
998
940
Central Government Fiscal Operations
Public Debt
As a percentage of GDP, the nation’s public debt stock
declined significantly between 2000 and 2005.
GROSS PUBLIC SECTOR DEBT
Million $
% of GDP
2000
26,792
54.4
2001
29,758
2002
CENTRAL GOVERNMENT DEBT
Million $
% of GDP
2000
20,749
42.1
55.0
2001
20,044
37.1
32,794
58.3
2002
20,637
36.7
2003
35,491
52.7
2003
21,461
31.9
2004
36,911
48.0
2004
22,043
28.7
2005
36,800
40.7
2005
21,523
23.8
International Benchmark
-
50%
Central Government Operations
Unemployment data
Unemployment Rate(%)
2006
-
-
12.2 %
10.8
10.4
10.5
8.3
8.0 %
14
12
Percent(%)
2000
2001
2002
2003
2004
2005
10
8
6
4
2
0
2000
2001
2002
2003
2004
2005
6.9 %
Trinidad and Tobago is now close to attaining full
employment and has recorded an unemployment rate
of 6.7 % for the October -December 2005 period.
CARICOM Single Market and
Economy (CSME)
By the end of 2005 Trinidad and Tobago had put in
place most of the requirements for the
implementation of the single market component of
the CSME and was one of the 6 signatory countries
at the official launch of the CARICOM Single Market
on January 1st 2006.
Inflation
 2001
 2002
 2003
 2004
2005
-
5.6 %
4.2 %
3.8 %
3.7 %
6.8 %
As the rate of economic activity accelerates a major challenge
for Trinidad and Tobago continues to be the control of
inflationary pressures. Both Government and the Central Bank
are aggressively utilizing policy instruments to contain
increases in the general price level brought about by a
combination of strong external in-flows, rising public spending
and strong demand pressures.

Energy Taxation Review
– the establishment of new regimes for the taxation of
income from oil and gas production including a work
programme for new exploration activities .(completed)
– Supplemental Petroleum Tax review. (completed)
– Fair Market Value for Gas contracts as opposed to contract
price (completed)
– Review of Production sharing Contracts (under
consideration)
– Resulting in more equitable distribution to the population
of Trinidad and Tobago. (Internationally Competitive )

Energy Investments
- the commissioning of Atlantic LNG Train IV
– the commissioning of ATLAS Methanol Plant
– the commissioning of Methanol Holdings (MHTL) M5000 Plant
– the commissioning Nitrogen 2000 Plant
– the completion of Phoenix Park Gas Processors
Limited expansion (PPGPL)
2005 CREDIT RATING
OIL EXPORTING COUNTRIES
Standard and Poor’s
Moody’s
Kuwait
A+
Kuwait
A2
Saudi Arabia
A
Saudi Arabia
A3
Trinidad and Tobago
A-
Trinidad and Tobago
Baa2
BBB
Mexico
Baa1
BBB-
Russia
Mexico
Russia
Investment
Baa2
Speculative
B2
Grade
Grade
Venezuela
Investment
Speculative Grade
B+
Venezuela
Grade
2005 ECONOMIC STATISTICS OF
OIL EXPORTING COUNTRIES
GDP
US $
INFLATION
RATE %
UNEMPLOYMENT
RATE %
Kuwait
$53.31 Billion
3.5%
2.2% (2004)
Saudi Arabia
$340.6 Billion
0.4%
13.0% (2004)
Trinidad and
Tobago
Mexico
$13.92 Billion
6.8%
6.9%
$1.068 Trillion
3.3%
3.6%
Russia
$1.539 Trillion
11.0%
7.6%
Venezuela
$164.1 Billion
15.7%
12.3%
COUNTRY
(MBOED)
Hydrocarbon Production in
Trinidad & Tobago
ALNG III
ALNG II
1,000
Projected
ALNG I
900
Pt. Lisas
Construction
Begins
800
700
600
1st NH3 Plant
500
400
WW II
300
200
100
OIL
GAS
2010
2000
1990
1980
1970
1960
1950
1940
1930
1920
1910
0
Taking care of people
• A government has a responsibility to
look after those in our society who are
unable or even unwilling to look after
themselves. Their share of the
countries resources are normally
provided based on identified need. Our
social safety net allocates in excess of
20 % to those so affected. (Enill 02).
Social Sector Investments
The government invested resources to improve the lives of the
following groups of vulnerable citizens :
Socially Displaced Persons - A survey of socially displaced persons was
conducted and a program to relocate the socially displaced elderly to
homes for older persons has begun.
Adolescent Mothers - Counseling, remedial and continuing education,
skills training, child care training nursery or other services were provided
to 50 young mothers and 50 infants at 6 centres nationwide.
Ex-Prisoners - In conjunction with the ongoing work of the Halfway House
for ex-prisoners, comprehensive proposals have been made for the
effective rehabilitation and reintegration of ex-prisoners into the society,
including addressing their employment, accommodation, health and
networking needs.
Social Sector Investment-Training
Component
 On-the-Job Training Apprenticeship Programme (OJT)
 Retraining Programme:
 5,234 persons trained during fiscal 2005
 Multi-Sector Skills Training (MUST) Programme
 Helping You Prepare for Employment (HYPE)
Programme:
 1,330 persons trained during fiscal 2005
Social Sector Investment-Training
 Civilian Conservation Corps (CCC): 3,697 persons trained during
2004 and 2005 cycles.
 Youth Training and Employment Partnership Programme
(YTEPP): 6,029 persons trained during fiscal 2005
 Geriatric Adolescent Partnership Programme (GAPP): 826
persons trained during fiscal 2005
 Non-Traditional Skills Training for Women
 Export Centres Programme
 Transformation and Development Centres (TDC)
Social Sector Investment-Training
 Youth Apprenticeship Programme in Agriculture (YAPA):
2,617 persons trained during 2004 and 2005
 Community Education Programme: 9,219 persons trained
during fiscal 2005
 Women in Harmony: 480 persons trained during fiscal 2005
 Adult Education Programme: 96,000 persons trained during
fiscal 2005
 Patient Care Assistants (PAC) Programme
Social Sector Investments
$5 billion in 2 years

Government invested $2,801 million in
fiscal 2004 and $3,012 million in fiscal 2005 on
132 social sector interventions geared to
correct a range of social needs :
78 developmental programmes
25 remedial programmes; and
29 preventive programmes
Survey of Living Conditions
A Survey of Living Conditions is being undertaken in
conjunction with the European Union’s Poverty
Reduction Programme. The survey is expected to
produce current data on poverty within Trinidad and
Tobago to enable a more targeted approach to
poverty reduction. The survey commenced in fiscal
2005 and will be finalized in fiscal 2006.
The date of the last survey of living conditions was in
1992 which indicated the following:
•
•
•
Unemployment Rate
GDP
Poverty Rate
-
15%
TT$23.1 billion
30%
Unemployment Relief
Programme (URP)
– 28,456 unemployed men and 29,616
unemployed women received short term
employment through the URP during fiscal
year 2004
– In fiscal 2005, 48,301 unemployed men and
72,816 unemployed women were employed
with the programme.
 State funded Old age Pension









In 1992 the old age pension was $356.15
In 2000 the old age pension was $720.00
in 2001 the old age pension was $800.00
In 2005 the old age pension was $1150.00
Pensioners can also access free medical and
drugs
Pensioners can also access the reverse mortgage
facility
Pensioners can also qualify for free bus passes
Pensioners can access free education up tp
tertiary levels
Pensioners can access home ownership
opportunities through the rent to earn program and
grants

Community Environment Protection and
Enhancement Programme)
– 6,100 persons were employed during fiscal 2004
– 6,240 persons employed during fiscal 2005
 Minimum Wage
– The Minimum wage was increased from $8 per hour
to $9 per hour in 2005.
NATIONAL SECURITY
National Security
Government has been responding aggressively to the rise in
criminal activity.
Budget Allocation
The Ministry of National Security has consistently been among the
top 3 ministries in terms of Government’s annual budgetary
allocations.
2000
2001
2002
2003
2004
2005
Allocation
$1.4 billion
$1.4 billion
$1.6 billion
$1.8 billion
$1.9 billion
$2.3 billion
2.5
2
$TT Bn.
Year
Ministry of National Security Budgetary Allocation
1.5
1
0.5
0
2000
2001
2002
2003
2004
2005
Kidnappings For Ransom
-
4
2001
-
7
2002
-
31
2003
-
51
2004
-
28
2005
-
58
Kidnappings for Ransom
60
Number of Victims
2000
50
40
30
20
10
0
2006(May)- 5
2000
2001
2002
2003
2004
2005
National Security
 New Equipment
Law enforcement and protective agencies have been
provided with modern equipment and technology
needed for proper intelligence gathering, effective law
enforcement, and emergency response.
These include:
– 182 vehicles for the Police Service (including 43
mobile police units equipped with CCTV)
– Airships equipped with aerial surveillance systems
– 2 aerial surveillance helicopters
– 2 fast-patrol vessels
National Security
New Equipment
 3 sky watch units
 Installation of 5 of the 10 radar sites designed
to provide the country with 360-degree radar
coverage
 68 Fire Service vehicles, including 56 Water
Tenders and Water Tankers, a Hazmat Unit and
an Airport Fire Unit, in addition to other equipment
such as Aerial Appliances (Hydraulic Platforms).
National Security
 Infrastructure Upgrade
Phase 1 of the police station repair and refurbishment
programme has been completed. This Phase specifically
targeted the repair and refurbishment of the police charge
room, air conditioning units, bathroom facilities, kitchen,
ceiling and reception areas so as to provide a more
comfortable working environment for the nation’s police
officers.
Work has commenced on:
• the construction of 5 new police stations in Belmont,
Tunapuna, Gasparillo, Mayaro and Toco
• a $14.3 million refurbishment and upgrade for the Police
Training College.
National Security
Institutional Strengthening
Commencement of the implementation of a modern
merit-based Performance Management System to
transform the Police Service from the existing
inefficient seniority-based system, to one that
adequately rewards an officer’s performance.
The National Office of Disaster Preparedness and
Management (ODPM) with responsibility for
bringing disaster management to the forefront of
national consciousness has been commissioned.
INFRASTRUCTURE
Flood Mitigation
Waste Water Treatment
Roads and Bridges
Public Transportation
New Infrastructure
Flood Mitigation
On-going flood mitigation works continue on key rivers,
including:
 the Marabella, Cipero and Vistabella Rivers in the South of
Trinidad;
 Richplain Ravine, North Oropouche and Watercourses in
Maraval/ Diego Martin areas in the North of Trinidad
 the Caroni River in Central Trinidad.
Wastewater Treatment
The Municipal Wastewater Treatment Facility at the new Beetham
Plant has been completed and will provide a better service to over
30,000 individuals in Port of Spain and environs from Diego Martin in
the West and Mt. Hope in the East.
Roads and Bridges
Under the Roads and Bridges Rehabilitation component of the National
Highways Programme, construction work was completed on the Couva
Main Road, Cedar Hill Road, Diego Martin Road, Guaracara/Tabaquite
Road and the Mayaro Guayaguayare Road.
Reconstruction work was completed on bridges in Paria, Hololo Road,
Morne Diablo Quarry Road and Southern Main Road in Cedros.
Public Transportation
– $1.6 million was spent to purchase 5 purpose built buses for the
physically challenged in 2004
– 12 articulated buses were acquired at a cost of $21.3 million in 2005
to increase the fleet of PTSC buses and improve its service to the
public
– A further 27 buses were retrofitted in 2005 at a cost of $4.7 million
– The Old Railway Building transport hub central office was refurbished
at a cost of $1.5 million.
HOUSING
Investment in shelter for citizens
 Accelerated Housing Programme
Fiscal 2004Fiscal 2005
-
4,143 housing units constructed
7,436 housing units constructed (est.)
 Maintenance and Rehabilitation
Under its Maintenance and Rehabilitation Programme the Ministry of
Housing engaged 50 contractors in 64 projects during fiscal 2004 for
maintenance and upgrading works to maintain the aesthetics of its housing
settlements. The Ministry also engaged in a further exercise to upgrade
properties at 7 sites in order to maintain its housing stock.
 Home Improvement Grants
for the Disadvantaged
During fiscal 2004 Government’s Home Improvement Grants Programme
issued 1,006 grants in the sum of $10,000 per beneficiary to old age
pensioners and the less fortunate in society to assist them in
effecting homes repairs. Approximately 577 grants were issued during
fiscal 2005.
 Squatter Regularization and Relocation
Upgrade work was completed on 5 sites under the first cycle of
Government’s Squatter Regularisation Programme, which seeks
to regularise approximately 5,400 squatter families. These 5 sites
have yielded 855 lots.
During 2004, 190 house units were also constructed for the
relocation of squatter families at Thompson Gardens and KP
lands in Valencia.
 Community Commercial Complexes
To deter the construction of unauthorized structures on older
NHA estates, three (3) Commercial Complexes were constructed
at Maloney ($16 million), La Horquetta ($10.2 million) and at
Pleasantville to house a mix of commercial activities and further
encourage the entrepreneurial spirit among residents.
BASIC EDUCATION
 Textbooks for the Nations ChildrenRental Programme
During the period 2000 -2005 :
.
221,300 books in 2000 (primary schools only)
.
340,000 books in 2003
. 450,000 books in 2004
. 1,200,000 books in 2005
• the programme was expanded to include students at early
childhood Centres and students at special educational
institutions.
 Meals for the Nations Children while at school
1000 breakfast school meals in 2000
25,000 breakfast school meals in 2004
37,208 breakfast school meals in 2005.
80,000 lunchtime school meals in 2000.
92,000 lunchtime school meals in 2004
94,736 lunchtime school meals in 2005 .
 Transportation for the nations children to school
provided by the government
Qualified students were provided with free transportation
through the purchase of bus tickets and maxi taxi places –
• 1,263,754 (bus tickets)
• 633,830 (maxi taxi places)
 Security
• Physical security measures including fencing and security
lighting were introduced at 17 secondary schools
• 60 primary schools provided with security services under
the School Security Programme
• the School Discipline Initiative was strengthened through
the establishment of a school joint task force with the
Ministry of National Security –
• 182 school safety officers were deployed to secondary
schools throughout the country
 Improvements in the system
Human resources agenda
– 4 Junior Secondary Schools in Aranguez, Five Rivers,
Siparia and Carapichaima were deshifted.
– A National Curriculum Council was introduced to
examine curricula in Primary and Secondary Schools
– Skill tutors were introduced at secondary schools to
guide students in academic and non-academic art
 Improvements in the system
– A Pre-School Education Program was launched
– A system of local school boards to foster links
between school and communities was introduced
– School Intervention Strategy projects were
implemented including:
• Peer Meditation, Peace, Love and
Understanding (PLUS)
• School Time Out Programme (STOP)
• Together We Light the Way (TLTW)
– A Teacher Professional Development Unit was
established.
TERTIARY EDUCATION


Enrolments at Major Public Tertiary
Education Institutions
Fiscal 2002 Fiscal 2005 -
11,244 persons
20,358 persons (an increase of 81 %)
Skills Development and Training Programmes
Approximately 37,370 persons were trained during fiscal
years 2004 and 2005.
During 2004 the Laventille Technology and Continuing
Education Centre (LTCEC) was opened and has enrolled
442 full-time and 115 part-time students to date.
 Government Assistance for Tuition Expenses
(GATE) Programme
GATE has made tertiary education more affordable to all
citizens of Trinidad and Tobago
In fiscal 2005 approximately 24,117 persons applied for
financial support through GATE to the value of $126.2
million.
This was:
– more than double the 10,500 applications under the Dollar
for Dollar program during fiscal 2004
– an increase of over 500 % since fiscal 2002
Through the Revised GATE free, tuition is now available to
all Trinidad and Tobago nationals.

University of Trinidad and Tobago
Construction of the interim administration and teaching
campus at O’Meara for the University of Trinidad and
Tobago has been completed.
There are 1,706 Trinidad and Tobago nationals registered
at the UTT for the 2005-2006 term.
Quality Standards
The Accreditation Council of Trinidad and Tobago (ACTT)
has been established as a key instrument for the
development of quality tertiary education in Trinidad and
Tobago by facilitating registration, recognition, quality
enhancement and accreditation of tertiary education and
training institutions and programmes.
HEALTH
Improving health care for our citizens
– Completed Regulations to effect the Tissue Transplant Act
which legalizes harvesting storage and transplanting of
cadavers and live donors
– Introduced the North Central Regional Health Authority
(NCRHA) to govern Eric Williams Medical Sciences Complex,
Caura Chest Hospital and 19 Health Centres
– Opened New Health Centres at Brasso Seco, Maloney, and
Blue Basin
– Expanded the C-Dap Program to cover Arthritis, Asthma,
Enlarged Prostrate and Mental Depression
– Achieved a 36.8 % decline in the infant mortality rate at the
Mount Hope Maternity Hospital between 2002 and 2004.
Improving health care for our citizens
– The first country in region to ratify the framework Convention on
Tobacco Control
– Commissioned additional operating theatres at major health
institutions
– Purchased :
• 136 additional beds at the San Fernando Hospital
with the opening of the new wing and Urology ward
• 68 additional beds at the Eric Williams Medical Sciences
Complex with the expansion and refurbishment of its
Adult Medical and Surgical Wards and the Chaconia Suite.
– Performed 100 Cataract surgeries in fiscal 2004 and over 4,000
surgeries in fiscal 2005 under the joint initiative between
Government and the Opthamalogist Society of Trinidad and Tobago
Improving health care for our citizens
– Performed 30,000 surgical procedures, significantly reducing
the waiting list at our Public Health Institutions.
– Performed 11,041 CT Scans at our Health Institutions
– Achieved a reduction in HIV/AIDS mortality by 50% between
2002 and 2005
– Provided free medication for 150,000 citizens through C-Dap
– Provided free mammograms at all major health institutions
Improving health care for our
citizens
– Launched the School Hearing Programme and commenced
screening of some 40,000 primary school children for hearing
impairments
– Trained over 1,000 nurses and assistants
– Trained over 1000 Patient Care Assistants
– Introduced Customer Relations Officers at major Health
Institutions
AGRICULTURE

Allocation to the Ministry of Agriculture
Millions of Dollars
Year
Budgetary
Allocation
Transfers to
Caroni
Allocation
less Transfers
2000
636.4
317.0
319.4
2001
353.7
90.0
263.7
2002
249.8
-
249.8
2003
391.6
90.0
301.6
2004
427.2
81.3
345.9
2005
453.0
-
453.0
Ministry of Agriculture Budgetary
Allocation and Transfers to
Caroni (1975) Ltd.
700
600
$TT Mn.
500
400
300
200
100
0
2000
2001
Allocation
2002
Transfers to Caroni
2003
2004
Allocation Less Transfers
2005
Caroni (1975) Limited
Following the closure of Caroni (1975) Limited in 2003 action
has been taken to ensure the productive and sustainable
economic use of Caroni’s former lands. Government has vested
these lands in the Estate Management and Business
Development Company (EMBD) which has been actively
identifying and surveying lands for the development of
commercial complexes, light manufacturing and agricultural and
housing estates.
Residential Lots:
–
–
–
–
22 sites have been identified
6,755 former employees are eligible for priority consideration
preliminary allocation has been completed
delivery is scheduled on a phased basis to be completed by
mid-2007
Caroni (1975) Limited (cont’d)
Agricultural Estates:
– 17 sites have been identified
– 7,247 former employees are eligible for priority consideration
– field identification exercises have been completed in respect of
1,200 plots on 6 sites
– delivery is scheduled on a phased basis to be completed mid-2007
Retraining and Retooling of Former Employees:
– 4,752 applications received by the end of November 2005
– 3,596 or 76.0% of courses completed, 402 in respect of former
monthly-paid employees and 3,194 in respect of former daily-paid
employees
– 936 former daily-paid employees participated in more than 1 course
– 41 % of Caroni’s former employees took part in training courses
Agricultural Census
During 2004 Government conducted the first National
Agricultural Census to be undertaken since 1982.
Institutional Support & Strengthening
A National Agricultural Information System was launched
so as to further modernize the agricultural sector and a
field inventory of 18,000 parcels of agricultural land’s
was entered into the system’s databases.
Agricultural Access Roads
In addition to routine road maintenance, a total of 61 km of
agricultural access roads were constructed, inclusive of 4
bridges and 23 culverts. These benefited over 3,280
farmers and serviced over 9,303 hectares of agricultural
land.
 Water Management and Flood Control
A total of 2,109 farmers benefited from Government’s Water
Management and Flood Control projects which serviced
1,880 hectares of agricultural land.
These projects included:
• The construction of 45 new ponds and reconstruction
of 62 ponds
• The de-silting of 105 km of drains and waterways.
Infrastructure Upgrade
Upgrade work on the country’s agricultural infrastructure
continued including the upgrading of a number of fishing
centres and markets to HACCP standards.
Youth Apprenticeship Programme in
Agriculture (YAPA)
Youth involvement in agricultural activity was encouraged by
the training of 2,462 young people between the ages of 17 and
25 and a further 155 youths respectively under Phases I and II of
the YAPA during 2004 and 2005.
The distribution of agricultural state lands and Caroni lands to
farmers and to graduates of YAPA and the Eastern Caribbean
Institute of Agriculture and Forestry (ECIAF) was accelerated.
Agricultural Incentive Program
During 2005 registered farmers received direct financial
benefit from Government’s Agricultural Incentive
Programme to the value of $14.9 million.
Agricultural Credit
Government provided increased access to agricultural
credit and protection for domestic agriculture producers
from unfair foreign competition through the CET and
import surcharges.
STATE ENTERPRISES IN
TRINIDAD AND TOBAGO
Special Purpose State Enterprises
To overcome the cumbersome bureaucratic procedures in
the public sector and increase the rate of implementation
of Governments investment programme Government has
designated 15 special purpose State Enterprises with a
mandate to fast track, among other things:
– the improvement of roads and drainage
– the construction of cultural centres and community sporting
facilities
– the stimulation of new business activity in the Industrial
Light Manufacturing Sector and the Tourism Sector
– the design and construction of Housing Estates
REPORTING OBLIGATIONS
To The Ministry of Finance
• State Enterprises are required to present timely reports o
the Ministry of Finance
• Important reporting topics include strategic plans, project
definition and appraisal, contract procedures and capital
expenditure that require Cabinet Approval
To The Public
• State Enterprises must produce yearly audited Financial
Statements
• These financial statements must be published in the
major daily newspapers for the information of the public
REPORTING OBLIGATIONS
To The Integrity Commission
• The Integrity in Public Life Act 2000, Section 4 Code
of conduct states:
“No person to whom this part applies shall be a party to or
shall undertake any project or activity involving the use of
public funds in disregard of the Financial orders or other
regulations applicable to such funds”
• Board of Directors must pay attention to the Act that
requires not only specific disclosure but suggests
operating procedures especially in procurement
matters
REPORTING RELATIONSHIPS
Security Matters
• State enterprises are required under current laws, to
report any activity or transaction that entails money
laundering or any circumstance that may affect
organisation or national security
• State Enterprises have a duty to ensure that the
security of the publicly owned property is managed
effectively and reports of breaches of security should
be made promptly to the relevant authorities
National Broadcasting Network (NBN)
Government has finalized the rationalization of the
loss making NBN and has incorporated the new
state owned Caribbean New Media Group Company
Limited.
Financial Support for Strategic Industry
In light of its strategic national significance, we have
also provided substantial financial assistance in
support of the restructuring of the national air carrier.
TOBAGO
THA Allocation for Fiscal 2000-2006
Millions of Dollars
THA Allocations
2000
-
351.9
1400
2001
-
525.0
1200
2002
-
708.0
2003
-
742.9
2004
-
900.0
2005
-
1,023.8
2006
-
1,340.9
$TT Mn.
1000
800
600
400
200
0
2000
2001
2002
2003
2004
2005
2006
Resources Allocation
Government has been working in partnership with the
Tobago House of Assembly (THA) for the development of
Tobago, and has demonstrated its commitment to Tobago
by ensuring adequate funding for the THA:
– In fiscal 2004 the allocation for capital and recurrent
expenditure was increased by 21 percent to $900 million
– In fiscal 2005 the allocation for capital and recurrent
expenditure was increased by 14 percent to $1.023
billion.
Resources Allocation
In addition the following access to additional resources
has been opened up by way of borrowing facilities for the
THA:
– up to a maximum of $400 million in fiscal 2004; and
– up to a maximum of $500 million in fiscal 2005
In effect the total resources available to the people of
Tobago more than doubled between 2003 and 2005.
Improving the quality of life of Tobago
The Central Government’s partnership with the THA during
fiscal years 2004 and 2005 include:
– the expansion of international air arrivals to Tobago to 78,729
in 2004 and an estimated 87,796 in 2005
– the doubling of the number of persons employed in the
tourism industry from 7,000 in 2002 to 15,000 in 2004
– the achievement of virtual full employment in Tobago
– significant improvements in the international air-links to
Tobago
– the leasing of the LYNX and CAT fast-ferries for increased
comfort and decreased travel time on the sea-bridge between
Trinidad and Tobago
 Improving the quality of life of Tobago
– the construction of 3 new secondary schools at Mason Hall,
Speyside and Goodwood and the achievement of surplus
secondary school places in Tobago
– the purchase of Pigeon Point by the THA to keep one of the
nation’s treasures in the hands of the people of Tobago
forever
– the purchase of the Courland Estate at a cost of $90 million
– the immediate and effective response to the suffering and
destruction arising from the widespread flooding and
landslides of November 2004 and from Hurricane Ivan
– progress in the fight against HIV/AIDS
Improving the quality of life of Tobago
– the revitalization of Kendal Farm School into a training
institute for the provision of training to farmers in
entrepreneurial development
– the enhancement of the investment incentive for farmers and
fishermen to lighten the cost of food processing items
– the formation of the Agro-processing Association of Tobago
(APAT) to increase the regional competitiveness of
Tobagonian condiments
– the establishment of 5 new primary schools in organic
farming (linked to YAPA) with assistance from the FAO
– the launch of a Pilot Credit Programme for farmers in
collaboration with the ADB and BDC.
Port of Spain Waterfront Project
(Under construction)
Thank you
Telephone: (868) 627-3537
Fax: (868) 627-5882
Email:[email protected]
Websites: www.finance.gov.tt
www.ird.gov.tt